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Search Results 0 to 11 of about 12 (some duplicates have been removed)
and doesn't help the u.s. economic recovery. but geithner said he was not prepared to label china a "currency manipulator" under u.s. law. >> tom: that reluctance was all too familiar to members of congress, and they grilled geithner with hostile questions. darren gersh reports. >> reporter: even the senators grilling the treasury secretary today admit hearings on china's overvalued currency have become something of a ritual over the years. it begins with the expression of outrage from senators like new york's charles schumer. >> at a time when the u.s. economy is trying to pick itself up off the ground, china's currency manipulation is like a boot to the throat of our recovery. and this administration refuses to try to take that boot off our neck. >> reporter: then, it's the treasury secretary's turn to share concern, to offer tougher rhetoric, and then to explain that declaring china a currency manipulator under the current law will do little more than require more consultations, as treasury secretary geithner explained today. >> wishing something does not make it so, and issuin
the treasury yields are telling us, that i think that september might be true to form. >> reporter: as to why september historically is so grim for stocks, experts have a few theories. some say investors refocus on their portfolios after summer vacation. others speculate many americans sell stocks in the fall to pay hefty tuition bills. suzanne pratt, "nightly business report," new york. >> susie: here are the stories in tonight's nbr newswheel. a mixed close on the last trading day of the month. the dow added five points, the nasdaq lost six, and the s&p 500 edged up a fraction. volume climbed a bit from yesterday's pace-- 1.4 billion shares on the big board and 2.1 billion on the nasdaq. minutes from the fed's latest policy meeting show some members think the central bank should provide more support if the economy weakens further. fed officials eventually agreed to reinvest the proceeds from their huge mortgage bond portfolio into treasuries. single family homes in major cities saw a modest price increase in june. the s&p/case shiller home price index rose 1% from may. but economists warn t
audible on wall street today, and in the offices of many u.s. banks. not only are the new capital standards looser than expected, but there's nearly a ten-year phase-in-- considered an eternity in the marketplace. experts say the so-called basel 3 requirements eliminate some uncertainty for financial stock investors, who were worried the rules would be tougher. k.b.w.'s fred cannon says, more importantly, they should help banks do business more cautiously. >> it means that there is risk retention for the banks. if they make a loan or do a mortgage securitization or subprime loan, they are going to have to take some risk and hold it on their balance sheet. and, that's a good thing because that's clearly one of the issues that got us into trouble a couple of years ago. >> reporter: some experts also believe the new capital standards will result in the return of juicy dividends, something that's been missing since the financial crisis unfolded. >> the banks have been precluded from paying dividends because they didn't know what capital needed to be, and they had to keep it all. now w
and c.e.o. gary kelley. my first question: why did you do the deal? >> first of all, airtran brings us a number of things. they have a safe low cost high quality operation. they have a strong low fare brand. but most importantly, it provides us an opportunity to expand our route network. they fly places that we don't. we have very little overlapping routes. but notably, their largest operation is in atlanta. and we have no service to atlanta at all, as one example. it brings us more access to new york's laguardia airport, as well as first-time access for us to reagan national airport in washington d.c.. >> susie: where kelly, why did you do it now? >> i feel like we're ready now. first of all, things are so much better today than they were a year ago. our profit outlook is solid. we have plenty of cash on hand. we have a very strong balance sheet, with credit rating agencies affirming our credit rating today. so financially we're very well prepared for this. we also have a very strong leadership team. who is ready to add this major task to our list. and then we have the tools in place
>> susie: u.s. unemployment ticked higher last month, but the total number of jobs lost was not as bad as expected. even though nearly 15 million americans are looking for work, some companies still have a hard time filling open positions. >> tom: and many americans who once had careers in the fast lane are going in a new direction, working in the non- profit world. you're watching "nightly business report" for friday, september 3. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. the unemployment rate now stands at 9.6%. tom, the labor department said 54,000 jobs were lost in august, facorting in census workers, but that number was lower than economists predicted. >> tom: susie, there were some encouraging signs. companies added 67,000 jobs to payrolls, the eighth straight month of job creation in the private sector. we have two stories, the specifics of th
our economy into a ditch, or do we keep moving forward with policies that are slowly pulling us out? >> reporter: too slowly, republicans fired back. on jobs, republican leader john boehner argued the president's policies are the problem, and a few new ideas won't change that. >> until this uncertainty and spending is under control... i don't think these are going to have much impact. >> reporter: what does all this politicking mean for your bottom line? first, on those new proposals from the president: $50 billion in infrastructure spending, an expansion and extension of the research and development tax credits, and 100% expensing of new equipment. the last is most likely to become law, and even that analysts consider a long shot. second, whatever the election outcome, there will be less help coming for the economy. goldman sachs washington analyst alec philips says that's one reason his firm is downgrading their economic forecast for 2011. >> there's really three things happening there. one is the fading effect of the 2009 fiscal stimulus bill. number two is our concern that congr
Search Results 0 to 11 of about 12 (some duplicates have been removed)